AlphaQuest LLC Invests $291,000 in The Pennant Group, Inc. (NASDAQ:PNTG)

AlphaQuest LLC bought a new stake in The Pennant Group, Inc. (NASDAQ:PNTG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,957 shares of the company’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. D.A. Davidson & CO. lifted its position in shares of The Pennant Group by 4.0% in the third quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock valued at $540,000 after buying an additional 575 shares during the last quarter. Quarry LP raised its stake in The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares during the period. Arizona State Retirement System lifted its holdings in The Pennant Group by 13.0% during the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock valued at $259,000 after purchasing an additional 1,121 shares during the last quarter. Principal Financial Group Inc. boosted its position in The Pennant Group by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 14,000 shares of the company’s stock worth $371,000 after purchasing an additional 1,374 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of The Pennant Group by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,214 shares of the company’s stock valued at $864,000 after purchasing an additional 2,476 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company started coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They set an “equal weight” rating and a $33.00 target price for the company. Truist Financial reduced their price objective on The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a report on Friday, March 7th. Finally, Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of The Pennant Group in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, The Pennant Group currently has an average rating of “Moderate Buy” and an average target price of $34.80.

The Pennant Group Stock Up 1.6 %

NASDAQ PNTG opened at $23.51 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The company has a market cap of $809.45 million, a price-to-earnings ratio of 34.57, a PEG ratio of 2.24 and a beta of 2.06. The company has a 50 day moving average of $25.84 and a 200-day moving average of $29.88. The Pennant Group, Inc. has a 1-year low of $18.28 and a 1-year high of $37.13.

The Pennant Group Company Profile

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.